M&A Deal Summary

Fortive Acquires The Gordian Group

On July 2, 2018, Fortive acquired software company The Gordian Group from Warburg Pincus and Education Growth Partners for 775M USD

Acquisition Highlights
  • This is Fortive’s 1st transaction in the Software sector.
  • This is Fortive’s 4th largest (disclosed) transaction.
  • This is Fortive’s 2nd transaction in the United States.
  • This is Fortive’s 1st transaction in South Carolina.

M&A Deal Summary

Date 2018-07-02
Target The Gordian Group
Sector Software
Buyer(s) Fortive
Sellers(s) Warburg Pincus
Education Growth Partners
Deal Type Add-on Acquisition
Deal Value 775M USD

Target

The Gordian Group

Mauldin, South Carolina, United States
website
The Gordian Group, Inc. is a provider of proprietary database management and procurement services for the repair and alterations segment of the construction sector. The Gordian Group was founded in 1990 and is based in Mauldin, South Carolina.

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Buyer(S) 1

Buyer

Fortive

Everett, Washington, United States

website


Category Company
Founded 2015
Sector Test/Measurement Equipment
Employees18,000
Revenue 5.8B USD (2022)
DESCRIPTION

Fortive is a diversified designer, developer, manufacturer, servicer and marketer of professional and engineered products, software, and services for a variety of end markets. Fortive operates through two business segments. These include Professional Instrumentation and Industrial Technologies. The Professional Instrumentation segment consists of the Advanced Instrumentation & Solutions and Sensing Technologies businesses. The Industrial Technologies segment consists of the Transportation Technologies, Automation & Specialty Components and Franchise Distribution businesses. Fortive was founded in 2015 and is based in Everett, Washington.


DEAL STATS #
Overall 2 of 9
Sector (Software) 1 of 5
Type (Add-on Acquisition) 2 of 9
State (South Carolina) 1 of 1
Country (United States) 2 of 8
Year (2018) 1 of 2
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-06 Landauer

Glenwood, Illinois, United States

Landauer, Inc. provider of technical and analytical services to determine occupational and environmental radiation exposure. The company has provided complete radiation dosimetry services to hospitals, medical and dental offices, universities, national laboratories, nuclear facilities and other industries in which radiation poses a potential threat to employees. Landauer's services include the manufacture of various types of radiation detection monitors, the distribution and collection of the monitors to and from customers, and the analysis and reporting of exposure findings.

Buy $770M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Accruent

Austin, Texas, United States

Accruent, Inc. is a provider of physical resource management software. Accruent provides market planning, site selection, project management, lease administration, facilities and space management software that is purpose-built for specific industries to deliver greater customer value. Accruent, Inc. was founded in 1995 and is based in Austin, Texas.

Buy $2.0B

Seller(S) 2

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 169 of 249
Sector (Software) 11 of 21
Type (Add-on Acquisition) 62 of 90
State (South Carolina) 1 of 1
Country (United States) 98 of 136
Year (2018) 14 of 17
Size (of disclosed) 25 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Blue Yonder

Karlsruhe, Germany

Blue Yonder is a provider of AI solutions for retail. Blue Yonder enables retailers to take a transformative approach to their core processes, automating complex decisions that deliver higher profits and customer value using artificial intelligence (AI). Blue Yonder was founded in 2008 and is based in Karlsruhe, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-10 HTDK

Shanghai, China

HTDK is a healthcare total solution provider focusing on medical devices, over-the-counter medication, consumer health, and pharmaceuticals. The company offers innovative, integrated and customized solutions in logistics (especially cold chain logistics), market entry, channel development, marketing and sales, and supply chain management to support the business growth in China. HTDK is based in Shanghai, China.

Buy -
DESCRIPTION

Education Growth Partners is a private equity firm focused on the education sector. Specific areas of interest include education institutions, educational services, tech-based solutions and services, and publishing/content providers. Transactions of interest include small buyouts and funding growth capital needs. Education Growth Partners is based in Stamford, Connecticut.


DEAL STATS #
Overall 3 of 6
Sector (Software) 1 of 2
Type (Add-on Acquisition) 2 of 5
State (South Carolina) 1 of 1
Country (United States) 3 of 6
Year (2018) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-17 Vistage

San Diego, California, United States

Vistage is a forum for business leaders to share their issues and experiences to help each other generate better decisions and results for their companies. Vistage members provide each other the same kind of counsel and support by meeting in person, collaborating online, and learning from hundreds of top industry speakers. Vistage was founded in 1957 and is based in San Diego, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 All Campus

Chicago, Illinois, United States

All Campus LLC is a provider of a full range of student recruitment services including partnering with not-for-profit institutions that offer quality online programs and help them find a share of voice in the marketplace by investing capital into the student recruitment process. All Campus was founded in 2012 and is based in Chicago, Illinois.

Buy -